phillip1882 Posted September 30, 2022 Report Share Posted September 30, 2022 I'm sure you all have heard of bitcoin by now, but just to review, bitcoin is a deflationary currency that uses mathematics and of course electricity to make it. I'm posting here to go over the cost and benefits of a deflationary currency. firstly, the hourly wage would have to decrease over time. this means loans would be more in demand. it also means prices would go down as well. loaning money is riskier, but also more lucrative. when you get paid back, assuming you do, the amount your receive is more valuable. as such interst fees could be reduced. saving money is much more valuable, especially long term. the government would probably raise taxes in order to pay for its functions. Quote Link to comment Share on other sites More sharing options...
palmariums Posted November 17, 2022 Report Share Posted November 17, 2022 (edited) To be honest, I am sure that after the current decline of bitcoin, it will go back up. That's why I continue to mine as before. It is true that I have less hardware, because the profit does not cover the costs. Have you heard about online mining services like https://www.moonbitcoins.com/? Should they be trusted or is it a scam? I want to find an alternative but I doubt it can be that easy... Edited November 18, 2022 by palmariums Quote Link to comment Share on other sites More sharing options...
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